Taubman Centers, Inc. (TCO) to Release Quarterly Earnings on Thursday
Taubman Centers, Inc. (NYSE:TCO) is set to announce its earnings results after the market closes on Thursday, July 27th. Analysts expect the company to announce earnings of $0.22 per share for the quarter. Taubman Centers has set its FY17 guidance at $3.67-3.82 EPS.
Taubman Centers (NYSE:TCO) last announced its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by $0.04. The business had revenue of $149.10 million during the quarter, compared to the consensus estimate of $146.28 million. Taubman Centers had a net margin of 17.09% and a negative return on equity of 168.15%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. On average, analysts expect Taubman Centers to post $1.23 EPS for the current fiscal year and $1.45 EPS for the next fiscal year.
Shares of Taubman Centers, Inc. (TCO) opened at 60.53 on Thursday. Taubman Centers, Inc. has a one year low of $57.17 and a one year high of $81.68. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 36.80 and a beta of 0.50. The firm has a 50-day moving average of $59.33 and a 200 day moving average of $64.92.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Tuesday, June 13th. Taubman Centers’s payout ratio is 152.44%.
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Several research firms have weighed in on TCO. BidaskClub cut Taubman Centers from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Zacks Investment Research cut Taubman Centers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. KeyCorp decreased their price target on Taubman Centers from $85.00 to $79.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 28th. ValuEngine cut Taubman Centers from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $56.00 price target (down previously from $71.00) on shares of Taubman Centers in a research report on Saturday, June 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $75.44.
About Taubman Centers
Taubman Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s segment is focused on owning, developing and managing regional shopping centers. The Taubman Realty Group Limited Partnership (the Operating Partnership or TRG) is majority-owned partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties.
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